Owens & Minor (NYSE:OMI) Posts Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Owens & Minor (NYSE:OMI) issued its quarterly earnings data on Monday. The company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.01, Briefing.com reports. Owens & Minor had a negative net margin of 0.40% and a positive return on equity of 14.66%. The firm had revenue of $2.72 billion for the quarter, compared to analysts’ expectations of $2.68 billion. During the same quarter in the prior year, the business earned $0.44 EPS. The business’s quarterly revenue was up 5.0% on a year-over-year basis. Owens & Minor updated its FY 2024 guidance to 1.450-1.550 EPS and its FY24 guidance to $1.45-1.55 EPS.

Owens & Minor Stock Down 2.0 %

Owens & Minor stock traded down $0.24 during midday trading on Tuesday, hitting $11.76. 648,605 shares of the company’s stock were exchanged, compared to its average volume of 832,041. The company has a debt-to-equity ratio of 2.17, a quick ratio of 0.51 and a current ratio of 1.09. Owens & Minor has a 12 month low of $11.42 and a 12 month high of $28.35. The firm has a 50-day moving average of $14.54 and a two-hundred day moving average of $16.19. The company has a market cap of $906.70 million, a PE ratio of -20.80, a P/E/G ratio of 0.43 and a beta of 0.41.

Analyst Upgrades and Downgrades

OMI has been the subject of several analyst reports. Barclays reduced their target price on shares of Owens & Minor from $18.00 to $14.00 and set an “equal weight” rating for the company in a report on Tuesday. Citigroup lowered their price target on Owens & Minor from $21.00 to $18.50 and set a “buy” rating for the company in a research report on Tuesday. JPMorgan Chase & Co. lowered their price target on Owens & Minor from $22.00 to $18.00 and set an “underweight” rating for the company in a research report on Wednesday, August 21st. Robert W. Baird lowered their price target on Owens & Minor from $19.00 to $14.00 and set a “neutral” rating for the company in a research report on Tuesday. Finally, StockNews.com cut shares of Owens & Minor from a “buy” rating to a “hold” rating in a report on Monday, August 26th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $18.50.

Owens & Minor Company Profile

Owens & Minor, Inc, together with its subsidiaries, operates as a healthcare solutions company worldwide. It operates through Products & Healthcare Services and Patient Direct segments. The Products & Healthcare Services segment offers a portfolio of products and services to healthcare providers and manufacturers.